Expert witness testimony for complex litigation involving damage analyses of lost profits, reasonable royalties, lost earnings, and lost value of business, forensic accounting, fraud investigation, investigative analysis of liability, marital dissolution, and tax planning and preparation. Excellent communicators with extensive testimony experience. Prior Big Four accountants. Specialties include: accounting, antitrust, breach of contract, business interruption, business dissolution, construction defects, delays and cost overruns, fraud investigation, asset tracing, intellectual property including patent, trademark and copyright infringement and trade secrets, malpractice, marital dissolution, personal injury and employment litigation, product liability, real estate, securities, spousal support, taxation, unfair advertising, unfair competition, valuation of businesses, and wrongful termination.
Business Litigation and Valuation Barbara Luna, PhD, CPA, CFE, ASA, CVA, ABV, CGREA, CCRA, CREA Dean Atkinson, CPA, CFE, ABV, CAC, CFF John Luna, JD/MBA, CPA, ABV, CFF David Turner, CPA, ABV, CFF Drew Hunt, MBA, CPA, ASA
Personal Injury / Employment Litigation Barbara Luna, PhD, CPA, CFE, ASA, CVA, ABV, CGREA, CCRA, CREA Venita McMorris, MA
Dr. Barbara Luna is the partner in charge of the commercial litigation department of White Zuckerman. She has been providing Forensic Accounting, Economic Damages, Valuation, and Expert Witness Services for the past 30 years and has testified in court over 450 times. She has a PhD in Applied Mathematics from Harvard University with application to Physics and Finance and a BA in Physics from Wellesley College. Barbara is a Certified Public Accountant, a Certified Fraud Examiner, an Accredited Senior Appraiser in Business Valuation, a Certified Valuation Analyst, Accredited in Business Valuation, a Certified General Real Estate Appraiser, and a Certified Financial Forensic. She previously was a partner with Coopers & Lybrand and has taught working capital management, business finance, forensic accounting and intermediate accounting at UCLA Graduate School of Management, California State University at Northridge and Pepperdine University.
Dean Atkinson is a partner in the commercial litigation practice of White Zuckerman. He has testified as an expert witness in Commercial Litigation and Family Law Matters and has been involved in Resolution and Settlement Negotiations since 1987. He holds credentials from the AICPA as a Certified Public Accountant, Accredited in Business Valuation and Certified Financial Forensics and from the Association of Certified Fraud Examiners. Dean is experienced and has qualified as an expert in business valuation, business litigation and family law matters.
John Luna is a partner in the commercial litigation practice of White Zuckerman. He analyzes Financial, Accounting, Economic Damages, Business, Real Estate and Valuation issues and testifies as an expert witness on his findings. He has been an investment banker with Macquarie Capital, GCA Savian and Lazard. John has a JD from UCLA School of Law (Order of the Coif), an MBA from UCLA Anderson School of Management (Edward W. Carter Fellow), and an AB in Engineering Sciences from Harvard University. He is a Certified Public Accountant, Accredited in Business Valuation, a Certified Financial Forensic and a member of the California Bar.
Venita McMorris is a partner and an Economist in the Personal Injury and Employment practice of White Zuckerman. She has been providing economic damages and expert witness services for over 20 years and has testified extensively in court. She has a Master of Arts degree in Economics from California State University, Fullerton and a Bachelor of Arts degree from San Diego State University. She previously was a manager with Coopers & Lybrand and an economist with a medical malpractice trust in Southern California. Venita has taught macroeconomics and microeconomics to college students at Pasadena City College as a full-time tenured instructor and at Glendale Community College as a part-time instructor.
Los Angeles 15490 Ventura Boulevard, Suite 300 Sherman Oaks, CA 91403 Phone: (866) 981-4266 or (818) 981-4226 Fax: (818) 981-4278 Email: email@example.com Website: www.wzwlh.com
Dr. Jules Kamin received his Ph.D. in business economics, finance and management science from the University of Chicago Graduate School of Business, rated #1. He is an expert on Economic Damages and Economic / Financial Aspects of Liability. He brings to the practice of forensic economics a unique combination of educational background, practical business and teaching experience, and a proven record of expert retention and testimony in over five hundred cases since 1987. Services Include:
Commercial damages occur in breach-of-contract and business-tort cases that result in claims of lost profits or diminished business goodwill or business value. Intellectual-property-infringement cases and antitrust cases also can involve such loss claims. The measurement of damages in these types of cases follows a basic methodology, with some variations in intellectual-property matters. Measurement of damages in securities-fraud cases uses a different approach.
Richard M. Teichner, CPA, ABV, CVA, MAFF, CFF, CRFAC, CRFAU, DABFA, FCPA, CGMA, CDFA, licensed in both Nevada and California, has over 45 years of experience in public accounting, and for approximately 25 of those years his areas of practice have been primarily providing expert services and consulting services in business litigation and family law matters. With offices in Reno and Las Vegas, Nevada, Mr. Teichner's practice extends to various jurisdictions throughout the United States. Although Mr. Teichner's services are mainly weighted toward complex business litigation and divorce matters, they also include performing valuations of businesses and business interests for estate tax and gifting purposes and for buy-sell situations. Clients have been both businesses and individuals involved in various industries, such as manufacturing, distribution, retail sales, construction, real estate development, and transportation, and in professional practices, e.g. medical, law and accounting, and other service businesses.
Litigation Matters - Expert services are provided to business litigation and family law litigation attorneys representing either plaintiffs or defendants. Mr. Teicher has testified over 45 times at trial and approximately 40 times at depositions. He has been engaged as a testifying expert or consultant in a variety of complex business litigation and family law matters. Such matters have involved forensic accounting, damages claims; contract disputes; disputes among business owners; fraud, including white collar crime; breaches of fiduciary duty; standards of care; and personal injury and wrongful death. Family law matters have involved property division, tracing, marital waste, alimony, business valuations, and tax implications of divorce.
Areas of Expertise:
Economic Damages / Lost Profits
Personal Injury / Wrongful Death Damages
Divorce and Family Law Matters
Business Valuations / Appraisal
Intangible Assets Appraisal
White Collar Crime
Standards of Care; Breach of Fiduciary Duties
Reno Office 3500 Lakeside Ct, Suite 210 Reno, Nevada, 89509 Telephone: 775-828-7474 or (775) 530-5106
Las Vegas Office 8275 S. Eastern Avenue, Suite 200 Las Vegas, Nevada 89123 Telephone: 702-724-2645 or (702) 467-8335
William "Bill" Redpath, ASA, CFA, CPA, ABV, CIPM, Managing Director at Summit Ridge Group, is a Business Appraiser with 36 years experience valuing companies and assets in the Broadcast, Media, and Telecommunication Industries.
Mr. Redpath currently heads the Chicago office of Summit Ridge Group. Before joining Summit Ridge Group, he worked for nearly 35 years at BIA Advisory Services, LLC, where he completed hundreds of fair market valuations and purchase price allocations for financial reporting and tax reporting purposes.
Previously, Mr. Redpath was a Senior Financial Analyst at NBC and an Internal Auditor at ABC (both in New York), Assistant Financial Manager at WISH-TV, Indianapolis, and a Staff Auditor at Arthur Andersen & Co. in Cincinnati.
Litigation Support - Mr. Redpath has participated in nearly 100 litigation support projects, including 36 depositions, and has testified in court or at arbitration hearings 24 times.
Areas of Expertise
Litigation Support Business Valuation
Valuation Theory / Methodology
Media and Entertainment
Cable & Satellite
Accredited Senior Appraiser (ASA), Business Valuation
Chartered Financial Analyst (CFA)
Certified Public Accountant (CPA), Virginia
Accredited in Business Valuation (ABV)
M.B.A., University of Chicago (Booth)
B.A., Economics & Political Science, Indiana University
Steven A. Eisenberg, FSA, MAAA has 50 years of Actuarial experience. He offers litigation support nationwide with regard to personal injury and wrongful death economic damages, appropriate mortality, life expectancy (note: population tables, that have not been modified by an actuary for lifestyle, chronic illnesses, family history, result in unreasonably long life expectancies), interest (discount) rates, future increases in income (note: historical experience indicates that wage inflation rates are lower than discount rates). His litigation support also includes life insurance product design and pricing, COI development and management, compensation, illustrations, administration and management services, policyholder tax issues, and product appropriateness.
Background Experience - Throughout his career, Mr. Eisenberg worked extensively in litigation support as an expert witness including actuarial design, administration and illustration of various life insurance and annuity products, both traditional and non-traditional, universal life (or excess interest products), and both general account and separate account variable insurance products. His expert work includes pricing these products and developing appropriate actuarial assumptions (e.g. mortality and life expectancy, interest and discount rates, agent or broker compensation and expense assumptions). He is also a co-inventor of several patents dealing with financial derivatives(swaps) relating to longevity and mortality mitigation.
In 1986, Mr. Eisenberg pioneered the development of large case COLI and BOLI and unwind strategies that are still used today. He is a renown expert in designing, developing, and evaluating BOLI and COLI programs for insurance companies, banks, other financial institutions, brokers and litigation clients. This includes developing appropriate actuarial assumptions (mortality and longevity, COI management, lapses and surrenders, expenses, taxes, interest and discount rates, compensation, policy dividends and life insurance company profitability and investment exposure (disintermediation)). He also developed administrative procedures, sophisticated illustration systems (for example, utilization of policy loans and partial surrenders) and insurable interest issues. His expertise includes policy owner tax issues (e.g. Section 264, 7702, 7702A, 1035) and legislative changes. He has evaluated the appropriateness of these products (general or separate account including stable value) for corporate and bank policy owners, including the accounting and financial impact to the policy owners.
Mr. Eisenberg is a Fellow of the Society of Actuaries (1973) and a Member of the American Academy of Actuaries (1975). He has served as an Instructor of Actuarial Science at Georgia State University and delivers lectures and seminars to associations throughout the United States. His services are offered to clients nationwide.
Litigation Support - Mr. Eisenberg currently provides expert litigation support for all aspects of life insurance and personal injury. He is a renowned expert in:
Stanley P. Stephenson, Ph.D. Economics, has provided Economic Litigation services in more than 400 cases. His experience includes Business Valuations, Economic and Quantitative Analysis and Market Assessments.
Dr. Stephenson's Expert Witness services are provided to defense counsel and plaintiff attorneys. He has been involved in cases in various industries including high-tech manufacturing, software development, agricultural product processing, auto accessories, hotel, real estate, eating & drinking establishments, pharmaceutical, chemical, hospital, insurance, transportation, professional sports, retail, petroleum and cosmetics.
This paper presents a method for measuring economic damages in wrongful termination cases. Such cases present the damages expert with a problem since the available studies of earnings recovery after a job loss are based on a limited time period after a job loss and many workers never catch-up to the previous earnings level. A two-step approach is offered. First, the expert uses appropriate available empirical evidence to develop a typical earnings catch-up period. Second, the expert gathers information about case factors affecting the duration of the period to earnings catch-up. Using these factors, the expert modifies the base time period to develop a reasonable range of years for earnings catch-up. The ultimate choice of lost earnings is left for the court to decide, given the range presented by the expert. Cases directly or indirectly supporting this method are presented.
Imagine you are lead counsel on an airline crash case in which more than 200 lives were lost, each involving a wrongful death case. A plaintiff attorney has hired an economist whose report on damages for one person, a Korean leather goods importer, exceeded $200 million. What should you do? Plaintiff’s expert is a Ph.D. from a top university who teaches economics and has many publications.
This paper focuses on business interruption litigation and how to compute lost profits as a remedy. The main contribution of the paper is development of a general model of economic damages which assesses lost profits by measuring the incremental changes in revenue, variable costs, and fixed costs.
Defects introduced in construction can lead to classic legal disputes between owners and contractors, especially when considerable sums of money are involved. What can a commercial mortgage broker learn from these disputes? What risks and potential rewards might arise?
Survival risk of new businesses is a challenging issue to incorporate into lost profits analyses used in litigation, an issue some financial experts and courts ignore rather than consider explicitly. This paper considers several ways to make qualitative and quantitative adjustments for the survival rates of new businesses.
The forensic financial expert may be familiar with assessing lost profits, earnings capacity, or even valuing a business, but what is the expert to do about damages arising from lost ability to engage in non-market work? In a personal injury, wronful death or similar tort cases, physical limitations may restrict market and non-market work the latter forming the basis for an additional source of damages.
Today's economists are still concerned however with issues of value and distribution and how market forces operate to price scarce resources like labor, land, machines and more recently information and time. The field is generally divided into two areas: macroeconomics and microeconomics.
Stanley P. Stephenson, David A. Macpherson & Gerald D. Martin
Uses proven procedures, checklists, samples and tables to value economic loss in wrongful death and personal injury cases. Learn how to calculate damages, what to ask a forensic economist, which tables to consult for current information on damages and more.
Dr. Stan V. Smith is a nationally renowned Economist and Financial Consultant providing analysis in simple terms that any trier-of-fact can understand. As an expert consultant to plaintiff and defense attorneys representing clients in Federal State courts, he provides testimony and litigation support services in evaluating damages.
Dr. Smith provides Analysis, Testimony, and Litigation Support Services in Evaluating Damages for plaintiff and defense attorneys representing clients in federal and state courts nationwide. His concept of Hedonic Damages is acknowledged by judges, attorneys, and legal journalists as one of the most innovative tort concepts in the last 30 years. He has been interviewed and published in dozens of respected professional journals. Dr. Smith has assisted in the successful resolution of thousands of lawsuits on behalf of clients that include many dozens of the nation's largest law firms, the U.S. Department of Justice, as well as thousands of other prominent plaintiff and defense law firms in almost every state.
The increased use of economic experts in commercial damage cases, as well as in personal injury and wrongful death cases, has resulted in the emergence of a group of experts who offer economic services but are unqualified and ill-trained in economics.
Mr. Blum, CPA, CFE, CPEA, CFF has over 30 years of professional experience as a forensic accounting testifying expert in damages, intellectual property, reasonable royalties & royalty audits. Mr. Blum is a leading licensing contract terms expert. He was 2017 California CPA of the Year & 2012 Certified Fraud Examiner of the Year.
Strengths in intellectual property, royalties, patents, trademarks, copyrights, DMCA, toys, entertainment, energy, music, breach of contract, and consumer products. Former Chief Audit Officer at Beats Electronics, 20 years as an accounting firm Partner including the Big 4. Employee of Fortune 50 companies Occidental Petroleum, Unocal, and the Walt Disney Company. While at Ernst & Young, Mr. Blum led fraud and forensic investigations nationally. Vice Chair (2016-2017) Board of Regents of the 80,000 member Association of Certified Fraud Examiners. Mr. Blum has lead more than 1,500 forensic accounting investigations.
Complex Economic Litigations and Intellectual Property Expert Witness - As an Economic Damages expert witness, Mr. Blum has worked on matters from simple to several billion dollars complex litigations. He has been retained as an expert witness for more than 100 matters. Most retentions have required a Federal report. Mr. Blum is a Certified Fraud Examiner, Certified Professional Environmental Auditor, and Certified in Financial Forensics by the AICPA. His damage calculations have consistently been accepted over other experts. His reports are noted as best examples by judges. Broad range of clients for leading law firms. Representative clients: Amgen, Microsoft, Disney, Dolby, Sony, Paramount Pictures, Mattel, GM, Sears, IGT, IMG, Tessera, Philips, Diageo, Harley-Davidson, DKNY, Chrysler, Ross, Steven Spielberg, Tom Hanks, Shark Tank, WWE, Warner Bros., McDonalds, SAG, DGA, WGA, Conor McGregor, UMB Bank, Bank of America, Everlast, etc.
Royalty auditing is a niche service that has exploded in popularity over the last 20 years. The primary purpose of a royalty audit is to test whether a licensee has complied with a license agreement or statutory requirement. The royalty auditor is hired by an intellectual property owner (aka, licensor) or minerals owner to inspect the books and records of a licensee primarily to determine if usage-based monetary amounts have been paid as contractually required. In addition to monetary damage calculations, most royalty audits examine for breach of contract in a wide variety of areas, such as intellectual property protection, record keeping, distribution channels, and permitted usage.
This book navigates readers through the nuances of drafting the best possible financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. The 2014 Edition includes updated information on how to properly write the financial aspects of royalty contracts to protect the licensor, licensee, and other concerned parties. Additional sample terms and "real-world" agreements have also been included.
This book navigates the nuances of drafting financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. This book will modernize and remold how agreements are written and will greatly enhance the bottom line of licensors and other contractors. Lawyers involved in drafting license and other self-reporting contracts typically understand boilerplate provisions but not the financial nuances that are subject to high degrees of interpretation that eventually costs their clients significant money and business relationships.
Research & Planning Consultants, LP (RPC) has been assisting clients with expert services for over 45 years, including consulting and expert witness testimony for personal injury, healthcare litigation, commercial litigation and Certificate of Need matters. RPC also offers a wide selection of health data. They have served clients across the U.S, from Alaska to Florida and from New England to California.
A Complete Team of Damages Experts for Personal Injury Litigation
Research & Planning Consultants, LP provides the following services:
PERSONAL INJURY - RPC provides comprehensive damages analysis in personal injury litigation. Their expert team has life care planners, vocational evaluators, board-certified physicians, economists and neuropsychologists.
Areas of Expertise include: Life Care Plans, Loss of Earning Capacity or Support, Present Value of Damages, Medical Bill Analysis, Chargemaster Analysis, Neuropsychological Testing & Traumatic Brain Injury, Vocational Evaluations, IMEs, Section 18.001, Prestanding ED Chargemaster Analysis
COMMERCIAL LITIGATION- RPC has provided expert analysis on commercial litigation concerning many industries: chemicals, refining, forestry, waste management, pipelines, water resources, oil and gas EDP, fisheries, agriculture, electrical generating plants, transmission lines, telecommunications, and real estate development. Our special expertise in the healthcare industry has proven valuable to business litigators unfamiliar with this complex industry.
Areas of Expertise: Breach of Contract / Commercial Economic Damages, Construction Disputes, Litigation over Non-Competitive Agreements, Environmental Torts and Toxic Torts, Commercial Disparagement, Wrongful Termination
HEALTHCARE LITIGATION - RPC offers economic, statistical, data and clinical analysis in a wide range of healthcare litigation. They have experience with payment disputes, qui tam litigation, physician-hospital disputes, practice valuations and construction litigation.
Areas of Expertise: Qui Tam Healthcare Litigation, Medical Staff Disputes, Professional Liability, Payment Disputes, Health Facility Construction Disputes, Freestanding ED Chargemester Analysis
CERTIFICATE OF NEED - RPC provides Certificate of Need (CON) planning services nationwide. We have over 35 years of experience developing regulatory strategy, preparing applications and testifying in public and administrative hearings.
Areas of Expertise: Satellite Hospitals, New Hospitals, Relocation and Transfer of Beds, Observation Beds, Geriatric Psychiatric Units, Children’s Hospitals, Comprehensive Inpatient Rehabilitation Units, Neonatal Intensive Care Units, Open Heart Surgery Services, Long Term Acute Care Units, Projects that exceed CON Capital Threshold Limits, Projects for Specifically Listed Services, Programs Requiring CON, Hospices, Senior Living Facilities
Ronald T. Luke, JD, PhD, is a principal consultant and President of RPC, LP. Ron joined RPC in 1976 and became its president and principal owner in 1979. He has consulted on projects for health care providers, managed care plans and public agencies in more than 25 states. He also serves as an expert witness in trials, administrative proceedings and legislative hearings.
Active in the Health Policy Arena, Dr. Luke has been accepted as an expert in Economics, Socioeconomic Impact Analysis, and Policy Analysis by state and federal courts, and state administrative agencies. The types of cases in which he has provided expert testimony include personal injury, contractual disputes, health care payment disputes, construction defects, utility construction permitting, and certificate of need. He has testified on health care matters including market structure, billing fraud and abuse, reasonableness of charges, medical staff credentialing, workers’ compensation fee guidelines, utilization review, physician contracts, and managed care contracts.
Kacy L. Turner, MS, CRC, CVE, CLCP, is a Certified Life Care Planner and Vocational Consultant with RPC. She has over 20 years of experience in Rehabilitation. Ms. Turner has experience writing life care plans for both plaintiff and defense clients. She has experience as a rehabilitation consultant in three states and has been qualified as a testifying expert in state and federal court.
Ms. Turner has worked on cases in several states as well as the country of Trinidad. To determine the pre-injury and post-injury employability in personal injury cases, she provides vocational testing, transferable skills analysis, job requirements analysis, rehabilitation plans, and definition of reasonable accommodations under the American with Disabilities Act. She is a member of the International Association of Rehabilitation Professionals, the Texas Association of Rehabilitation Professionals and Providers of Services, and Vocational Evaluation and Career Assessment Professionals.
Brian Piper, PhD, is an Economist with RPC specializing in Quantitative Analysis and Modelling. He works on a variety of cases including personal injury and certificate of need. He is experienced in data extraction, management, simulation, and analysis using STATA, SQL, ARC GIS and a variety of other programs. Dr. Piper has taught graduate classes in statistics and econometrics in both MBA and Ph.D. programs.
Dr. Piper is an experienced expert, providing testimony, reports, and affidavits on the issues of economic damages in personal injury litigation, healthcare litigation, False Claims Act litigation, and other commercial litigation. He has testified on behalf of plaintiffs and defendants.
Dr. Piper specializes in the economics of healthcare. He has been retained by healthcare providers and insurers in payment disputes. He has analyzed the reasonableness of charges and expected payment for past and future medical services for providers, insurers, plaintiffs, and defendants. Besides work in litigation, Dr. Piper has provided analysis of Certificate of Need applications and the economic impacts of proposed legislation.
This paper identifies and discusses industry standards for what charge percentile threshold state laws and private health plans consider reasonable to determine allowable amounts for payment. The term &"allowable amount"; refers to the total amount a regulation or private health plan determines a provider should be paid. It is the sum of the payment responsibilities of the plan and the patient.
Military Experts, LLC is a consulting firm that advises attorneys nationwide on military issues including accession, promotion, retention, and compensation (active, reserve, and retired pay and benefits). Founded in 2011, Military Experts, LLC employs a diverse team of recognized military leaders from each branch of the military who have served at the highest levels of their military services and understand the military issues and service-specific nuances involved in each case.
Military Experts, LLC helps attorneys understand, quantify, and explain the impact an injury has had on a service member’s career. Their experts employ a reliable, fact-based methodology and independent judgment honed over decades of military experience to advise attorneys representing plaintiffs or defendants in civil litigation across the country.
Military Experts, LLC advise their attorney clients as either consulting or testifying experts. They have the knowledge and experience to properly advise attorney clients on the impact an individual’s military service has on their case – and the credibility to explain those impacts to a finder of fact. Each case is different, but the process and methodology are the same:
Determine whether a service member's injury caused any damage to his/her career:
Assess whether a service member has lost military earnings or benefits and, if so,:
Quantify the loss stemming from that damage (pay, benefits, retirement, medical coverage - inflation-adjusted)
Hon. Dennis M. McCarthy, LtGen, USMC (Ret) is a Principal in Military Experts, LLC. He began his Marine Corps service as a platoon leader in Vietnam, and completed it as Commander of Marine Forces Reserve, having led that force for four years during the Corps’ largest reserve mobilization in history. He retired in 2005 as the Marine Corps' senior Lieutenant General with over 40 years of active and reserve service.
After completing his service in uniform, he was Executive Director of the Reserve Officers Association of the United States, a 60,000 member professional association in Washington, D.C. In 2009, he was nominated by President Obama and confirmed by the Senate to be an Assistant Secretary of Defense. As Assistant Secretary of Defense, he was responsible for policy development and execution for over one million members of the National Guard and Reserves of all services. He was also responsible for the activities of the National Committee for Employer Support of Guard and Reserve, a Department of Defense entity tasked with establishing and maintaining positive relationships with the nation’s large and small employers whose support is so essential to members of the Guard and Reserve.
In 2013-2014, Dennis was appointed by the President to the National Commission on the Structure of the Air Force, where he served as its Chair. From 1978 to 1999 while serving in the Marine Corps Reserve, Dennis was a civil trial lawyer in Columbus, Ohio and was managing partner of his own firm. He was Board Certified by the National Board of Trial Advocacy; an Adjunct Faculty member at Capital University Law School; a leader in state and national legal organizations; and a frequent CLE lecturer and contributor.
Dennis is currently of counsel to McCarthy Law Offices, LLC in Columbus, Ohio. Dennis graduated from the University of Dayton and the Capital University Law School. In 2010, he was awarded an Honorary Doctor of Laws degree by Capital University Law School, and was named the Distinguished Alumnus for 2011.
Michael D. McCarthy, is a Principal in Military Experts, LLC. Mike is an expert on matters relating to military compensation and the disability evaluation system. Mike is a career Marine Corps officer with over 20 years of active and reserve service. He has served in both command and staff assignments in the United States and abroad, including a tour as the Military Legislative Assistant to the Chairman of the House Intelligence Committee. Mike has served as a member of multiple Marine Corps promotion boards, as well as the Secretary of the Navy’s Marine Corps Reserve Policy Board. He is a graduate of the Eisenhower School for National Security and Resource Strategy, the Marine Corps’ Command and Staff College, and the Amphibious Warfare School.
Mike’s military training and experiences, as well as his experience as an attorney in private practice, give him unique insight and a superior ability not only to assess the ground-truth of a situation and to provide sound counsel to his clients, but also the credibility to effectively testify to his findings. Mike is admitted to practice law in Ohio and the District of Columbia.
Jeffrey Ketchum, CRA, is an Executive Recruiter and Executive CompensationConsultant with 28 years of executive level (C-level, VP & Director) search consulting experience for small, middle market and Fortune 500 companies. He has global executive research experience in North America, South & Central America, Europe and the Asia Pacific region.
Mr. Ketchum's expertise is in leadership advisory, strategic talent planning, succession planning, executive talent attraction, executive compensation, management appraisal & executive assessment, and executive & managerial development. He has personally completed 200 engagements focused on executive recruiting, executive marketability, executive compensation and executive assessment (skills, competencies, experiences, performance).
Mr. Ketchum is a Graduate of Cornell University's Advanced Program for Executive Search & Leadership Consulting. He is AESC Certified Researcher/Associate (CRA) through the Association of Executive Search and Leadership Consultants, the official representative of the industry to the US Government and European Commission.
Litigation Support - Mr. Ketchum is available for select expert witness engagements, consulting (non-testifying), strategy, and litigation support. He asseses executive experience, skills, and performance for divorce, negligence, personal injury cases (future lost earning capacity or wage loss), shareholder suits, whistleblower and wrongful termination cases. He opines on issues related to executive earning capacity, executive employability, executive job search analysis, and (un)reasonable compensation.
As an Executive Recruiting and Executive Compensation expert witness, cases may include:
The career path, opportunities, and compensation plaintiff would likely have had if not injured;
Whether an individual used reasonable efforts to find substantially equivalent employment;
The long-term impact on an individuals career because of an employment termination;
Whether defendant was negligent in vetting candidates which contributed to damages
Key Coleman, CPA, CFA, CPCU, ARe is Executive Director and Founder of Litigation Economic & Forensic Consulting Group LLC. While his firm is located in Greater Philadelphia, his practice is nationwide. Mr. Coleman focuses on damages analysis and expert testimony in a variety of areas including business breakup, post-acquisition purchase price disputes, employment, lost wages and manufacturing. Mr. Coleman also has a specialty in the Insurance and Reinsurance Industry. Mr. Coleman has over 30 years of experience providing business and financial analysis in the insurance and reinsurance industry. Prior to starting his own firm, he spent the bulk of his career in Chicago where he was a partner at a Big Four accounting firm and subsequently held high-level positions at other nationally recognized accounting and consulting firms. Prior to his consulting career, he spent more than eight years in the insurance and reinsurance industry.
Mr. Coleman is often called upon to perform expert analysis relating to Damages in Insurance or Reinsurance Disputes. He is one of the few experts nationwide who holds both the CPA and the CPCU designations. Mr. Coleman performs expert testimony as an insurance economic damages expert witness both locally and nationwide. In addition, he performs inspections of MGAs, TPAs, ceding companies, and insureds. An abbreviated list of his insurance expert and damages specialties include:
Economic Damages in Commercial Disputes
Lost Profits / Lost Earnings
Post-acquisition purchase price disputes
Lost Wages Analysis
Insurance Damages Expert
Damages Analysis in Insurance and Reinsurance
Agency, Broker, MGA Disputes
Underwriting and Claims Analysis
Force Placed Insurance
Professional Liability / E&O / D&O
Professional Employment Organizations (PEOs)
Accounting, Forenisic Accounting and Investigations
Keegan Linscott & Associates, PC is a full-service accounting firm with more than 27 years of experience providing expert services as Certified Public Accountants, Certified Fraud Examiners, Forensic Accountants, and Certified Insolvency and Restructuring Advisors.
KLA's litigation support team assists clients and their attorneys to prepare for the financial and economic facets of settlement or trial proceedings. They perform in-depth analyses and provide clear and detailed explanations of findings. They assist attorneys as consultants or in the court in a wide range of cases and investigations. Their role can involve fact-finding, discovery, settlement negotiations, trial support, and expert witness testimony.
The professionals at KLA have testified as experts in Federal, District, Bankruptcy, State, and Tax Courts, as well as before arbitration panels. They have the proven ability to develop and communicate compelling analyses of accounting, economic and financial information to judges and juries in plain, simple language through affidavits, written reports, oral testimony, and trial graphics.
Litigation Support Services:
Analyze damages involving commercial litigation and damages involving individuals, including lost profit analysis, owner disputes, employee/employer disputes, personal injury, and business interruption claims
Evaluate the opposing party's financial damages report to uncover any hidden facts or missing information in a business damages case
Divorce litigation, including analysis of sole and separate property issues
Locate hidden assets
Analyze preference claims, inter-company transfers of assets, and fraudulent conveyances
Christopher G. Linscott, CPA, CFE, CIRA, is a Director of Keegan Linscott & Associates and is the Director of Litigation, Forensic Accounting, and Bankruptcy Support Services.
Mr. Linscott was previously employed with the international CPA firms of Coopers & Lybrand (now PricewaterhouseCoopers), and Peat Marwick (now KPMG). He has more than 30 years of experience in public accounting.
Mr. Linscott specializes in the areas of Litigation Support, Bankruptcy Reorganization, Fraud Investigations and Prevention, and Business Consulting. He has served clients in industries including construction, health care, home builders and developers, law firms, manufacturing and distribution, non-profit, professional services, real estate, restaurant franchises, retail service, and wholesale.
Mr. Linscott is a Member of the Arizona Society of CPA's, American Institute of Certified Public Accountants, National Association of Certified Fraud Examiners, Association of Insolvency and Restructuring Advisors, and a Director of the Board of Directors at Bashas’.
Tony Wayne, CPA, CFF, CVA, CIRA, is a Certified Public Accountant with over 25 years of private industry senior operations experience.
Background - After a diverse career spanning 15 years in Big 8 public accounting/consulting and private industry, Mr. Wayne founded IronHorse with an emphasis on complex commercial/ financial/private placement and M & A litigation support, family law & estate valuation & forensic accounting engagements, SBA loan application business valuations, distressed business valuation & appraisal, and commercial credit & private equity portfolio reviews & FASB compliance services. Visit their website at www.ihorsellc.com.
Litigation Support - Mr. Wayne is available to advise boards of directors, senior management, and corporate counsel in all litigation matters that can impact business practices, profitability, and continued viability. He maintains rigorous compliance with certifying and credentialing bodies and their regulations and scrutinizes the facts behind complicated forensic accounting and valuation issues. He is a member of the American Bankruptcy Institute, including the Business Reorganization Committee and Fraud Task Force.
In addition, Mr. Wayne is a member of the American Institute of CPA’s, the Association of Insolvency & Restructuring Advisors, and the National Association of Valuation Analysts, his services include expert witness assistance (consulting and testifying), solvency opinions, rebuttal expertise, case assessment management, and services in other areas of dispute and pre-complaint, complaint, discovery, pre-trial, and settlement consulting.
Forensic Services Include:
Fraud prevention, detection and response
Financial Reporting Fraud and Irregularity Forensic Audits
Electronic Evidence Analysis
Preservation and Securitization
Ponzi Scheme Analysis
Asset Searches, Public Records Searches, and Related Party Search and Documentation
Pink Sheet and Other Stock Scams
Private Placement Fraud Analysis & Investigations
Borrowing Base and other Bank Fraud Examinations/Investigations
Valuation Services Include:
Mergers and Acquisitions-Buy & Sell Side Advisory
Estate Tax Returns
Buy / Sell Agreements
Distressed Business Valuation
Plan of Reorganization Valuation
Liquidation Plan Valuation
Lost Profit and Damages Computations/Valuation
Goodwill and Intangible Asset Fair Value Impairment Valuation
Lender & Private Equity Due Diligence / Portfolio Valuations
When rendering an expert opinion on fair market value (“FMV”) of an enterprise, the underlying assumption is of a hypothetical transaction, involving a willing seller and buyer, each under no compulsion to enter into a transaction. Fair value (“FV”) on the other hand introduces the notion of likely transactions, likely transaction participants.
Thirty years ago, in the midst of an early-season slump, George Brett told reporters, "The first thing I look for in the Sunday papers is who is below the Mendoza line." Brett, who went on to hit .390 that year for the Kansas City Royals, was referring to Mario Mendoza, a light-hitting shortstop for the Seattle Mariners whose surname became synonymous with hitting futility.
Two years ago, you finally closed the big merger deal you spent what seems like years working on. Perhaps, your business is tied to commercial real estate development, construction, or building materials. Just when you were ready to start that big ramp up, the bottom fell out.
Executive Summary: Imagine the extraordinarily unusual challenge of valuing a going-concern start-up enterprise yet to make their first sale which was completely destroyed by a casualty loss and never-reopened. Further complicated by the inherent ambiguity, risk and complexity of the embryonic development stage industry in which they were attempting to operate and succeed.
In certain situations, the sale of an operating entity as a going concern in a receivership proceeding is a viable alternative to seeking relief under the Bankruptcy Code. Receivership going-concern sales may be especially appropriate in complex situations where enterprise value is declining, but the company is not hopelessly insolvent. This article briefly highlights those conditions, factors, situations and circumstances that may contribute to or impede a successful going-concern transaction within a court-supervised commercial receivership.
Robert Bates, JD, CPA, CFE, CVA, has over 30 years of Financial Management and Accounting experience as a Controller and CFO in various industries. He has been in several industries, including telecom, media, retail and financial services in addition to having consulting experience at startups in the software, technology, and life sciences fields.
Mr. Bates specializes in International Accounting, Software Issues, and Obtaining Financing. The CFO of a public company, he has completed due diligence accounting/reporting for 12 acquisitions, including performing Business Valuations and dealing with FAS 142 issues. Mr. Bates has handled accounting for complex debt instruments including warrants, beneficial conversion feature, and other derivative issues. He has also been responsible for SEC reporting: 10Q’s and 10K’s.
Litigation Support - Robert Bates has worked with dozens of lawyers on over 50 cases in various states. Sometimes he provides financial support for a client in litigation, or pre-litigation, and other times he provides a report, such as a damages calculation, which can be used in litigation. He also has experience providing testimony in depositions and trials.
Economic downturns and recessions are notorious for encouraging fraud. As new and prospective fraud examiners, it's imperative that you become aware of the various fraud risks that can occur and the red flags that indicate a fraud in progress.